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Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 376.1017. Plan to establish loss reserves--plan to establish surplus account, amount

Current as of January 01, 2025 | Updated by Findlaw Staff

1. A plan shall establish loss reserves for all incurred losses, both reported and unreported, and for unearned premiums.

2. A plan also shall establish a surplus account equal to the greater of the following:

(1) Three times the average paid monthly premium during the plan's most recent fund year;

(2) For plans which do not yet have one fund year's experience, three times estimated monthly premium; or

(3) Six hundred thousand dollars.

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Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 376.1017. Plan to establish loss reserves--plan to establish surplus account, amount - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-376-1017/

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